Beneficiary Designation Form PDF Details

What do you think would happen to your assets if you passed away suddenly? Many people don't think about it until it's too late, but estate planning is something that should be done sooner rather than later. One important part of estate planning is beneficiary designation forms. A beneficiary designation form names the person or entity who will receive your assets after you die. It's important to choose someone you trust to handle your estate and distribute your assets according to your wishes. If you don't have a beneficiary designation form in place, your assets could end up going to someone you didn't intend to receive them. So, what are the benefits of having a beneficiary designation form in place? Let's take a look.

You will see info about the type of form you would like to complete in the table. It will tell you just how long it will take to fill out beneficiary designation form, exactly what parts you will need to fill in and several other specific details.

QuestionAnswer
Form NameBeneficiary Designation Form
Form Length2 pages
Fillable?Yes
Fillable fields19
Avg. time to fill out4 min 22 sec
Other namestransamerica beneficiary change form, transamerica life insurance company forms, beneficiary designation transamerica, transamerica life insurance beneficiary change form

Form Preview Example

Monumental Life Insurance Company

Stonebridge Life Insurance Company

Transamerica Life Insurance Company Western Reserve Life Assurance Co. of Ohio Administrative Office located at:

4333 Edgewood Road N.E., Cedar Rapids, IA 52499-0001

FAX 800-235-4782

Beneficiary Designation Form

Policy Number:

 

Insured’s Name:

Owner’s Name

Address

City

State

Zip

Written confirmation of this change, if recorded by the Company, will be mailed to the owner’s address unless otherwise indicated below and initialed by the owner.

Return confirmation to:

 

Owner’s Initial

 

General Agency/GA Code

 

 

 

 

 

 

 

 

Fax to: (

)

 

 

 

 

 

 

 

 

 

Check if new address update is needed.

This Beneficiary Designation cancels all prior Beneficiary Designations and settlement agreements for the Policy identified by the number above. Please see instructions, signature requirements, special provisions, and sample Beneficiary Designations before completing the form. If this form is recorded by the Company, such recording does not mean that the Company has passed on the legal adequacy or validity of the transaction requested.

Print the beneficiary’s full name, address and relationship to the Insured. The Policy’s death benefit will be paid to multiple beneficiaries in equal shares unless otherwise indicated. For multiple beneficiaries of unequal shares, indicate each beneficiary’s share in percentage of the Policy’s Death Benefit next to their names. (See next page for additional instructions.)

Primary Beneficiary(ies): If more than one beneficiary is named, and any beneficiary(ies) predecease the Insured, payment of the share(s) that would have been payable to the deceased beneficiary(ies) will be made in equal shares to the surviving beneficiary(ies) unless otherwise indicated. Percentage for both the primary and contingent beneficiary, if applicable, must separately equal 100%.

Name (list below)

Address (list below)

City, State, Zip

Relationship

Percentage

 

 

 

 

 

Contingent Beneficiary(ies): Receives proceeds at the death of the Insured only if all of the Primary Beneficiaries predecease the Insured.

 

Name (list below)

Address (list below)

City, State, Zip

Relationship

Percentage

Owner’s Daytime Telephone Number

Irrevocable Beneficiary Signature (if applicable)

Witness Signature

Address of Witness

Print Owner’s Complete Name

Owner’s Social Security Number/Tax ID Number

Owner’s Signature (include Title, if Business or Trust)

Owner’s Signature (include Title, if Business or Trust)

Date Signed:

TOB 306M-0809

(SIGNATURE REQUIREMENTS ON NEXT PAGE) TG-NF

INSTRUCTIONS:

Be sure to show the Policy Number and Insured’s Name at the top of this form. Use a separate form for each Policy. Restate the entire designation, even if only changing a part of the designation. If additional space is required, please attach a separate page (including Policy Number, Date Signed, and Owner’s Signature.)

INDIVIDUAL(S) - The current Owner(s) must sign on the line provided for “Owner’s Signature.”

BUSINESS ENTITY- One officer other than the Insured must sign below the name of the company. The officer’s title (President, General Manager, Vice President, Secretary, etc.) must follow the signature. A corporate resolution or other supporting documentation is required to support each officer’s signature. If the insured is the sole officer of the company, we will require a statement on company letterhead signed and dated by that officer and witnessed by a least one other person, that the insured is the sole officer and that he/she is authorized to act on behalf of the company. If a partnership is the owner, at least two authorized partners must sign below the name of the partnership and the title “Partner” must follow each signature.

TRUST - The complete name and date of the trust should be listed. Individual trustees must sign and add wording similar to the following: “John Doe, trustee under XYZ Trust dated June 1, 1984.” Corporate Trustees must sign and add wording such as “ABC Bank, trustee under XYZ Trust dated June 1, 1984; John Doe, Trust Officer”, and a corporate resolution or other supporting documentation is required to support each corporate trustee officer’s signature. For changes to trust owned policies, a completed Verification of Trust Agreement for Life Insurance Policies (dated within the previous twelve (12) months) must be submitted with the applicable change form.

IRREVOCABLE BENEFICIARIES - Any irrevocable beneficiary must sign subsequent beneficiary designation changes and may be required to sign other requests for changes to or disbursements from the Policy.

GUARDIAN OR CONSERVATOR – A court-appointed guardian of the estate or conservator may sign on behalf of the Owner. Certified copies of the letters of guardianship/conservatorship and/or the court order that authorizes the change must also be submitted.

AGENT ACTING UNDER A POWER OF ATTORNEY - An agent acting under a power of attorney may sign on behalf of the Owner. A complete copy of the Power of Attorney document, the Questionnaire to Accompany Power of Attorney, and the Affidavit of Agent for Power of Attorney must be submitted by the agent. If a complete copy of the Power of Attorney documentation has been submitted to us within the previous twelve months, an additional copy may not be required.

COMMUNITY PROPERTY STATES - Unless we have been notified of a community or marital property interest in this Policy, we will assume that no such interest exists and will assume no responsibility for inquiring whether such interest exists. By signing this form, the Policy owner agrees to indemnify and hold us harmless from the consequences of making the changes requested in this document.

COLLATERAL ASSIGNMENTS - If the Policy has been assigned, a representative of the collateral assignee must also sign the form. A corporate resolution should be provided if the assignee is a business entity, subject to the Business Entity signature requirements stated above. Payment of proceeds to any beneficiary is subject to the interest of any assignee on the Policy.

IF A BENEFICIARY DIES - The interest of any beneficiary who dies before the Insured will terminate at his/her death. The interest of any beneficiary, who dies at the time of, or under certain policies within 30 days after, the Insured’s death, will also terminate if no proceeds have been paid to the beneficiary. If the interest of all named beneficiaries has terminated (including contingent beneficiaries, if named), any proceeds payable will be paid to the Owner of the Policy. If the Owner is not living at that time, any proceeds payable will be paid to the executor or administrator of the Owner’s estate.

TRUST/MINOR BENEFICIARIES - If a trust is named beneficiary, the Company shall not be responsible for the disposition by the trustee of any proceeds paid to the trustee. Any payment to a minor beneficiary shall be made to the legally appointed guardian of the estate or conservator of the minor, unless otherwise permitted by law.

Requests for special settlement arrangements, other than those specified in the Policy, may be sent to the Company for review and assistance with preparation of the proper beneficiary designations.

SAMPLE BENEFICIARY DESIGNATIONS: PERCENTAGES: Do not specify dollar amounts. Please use percentages totaling 100% for primary and contingent designations. Primary beneficiaries should total 100% and contingent beneficiaries should independently total 100%.

ONE PRIMARY AND ONE CONTIGENT:

Primary: Jane Doe, Spouse

Contingent: John Doe, Jr., Son

INSURED’S ESTATE:

Estate of Insured

TRUST:

XYZ Trust, dated ________________; ABC Bank, Anytown,

CA 12345, Trustee

SPOUSE OF INSURED, OTHERWISE CHILDREN:

Primary: Jane Doe, Spouse

Contingent: John Doe, Jr., Son, and any other children born to or adopted by the Insured (currently living children must be named)

IRREVOCABLE BENEFICIARY:

Primary: Jane Doe, Spouse, irrevocably designated

TWO BENEFICIARIES IN UNEQUAL AMOUNTS: Primary: Jane Doe, Mother 75%; John Doe, Brother, 25%

PER STIRPES DESIGNATIONS:

Primary: Jane Doe, Spouse

Contingent: Equal shares to John Doe, Jr., Son and Mary Doe, Daughter, per stirpes.

CORPORATE CREDITOR:

Primary: ABC Co., Inc., Creditor, a California Corporation, its successors and assigns, as its interest may appear; remainder, if any, to Jane Doe, Spouse.

INDIVIDUAL CREDITOR:

John Doe, Creditor, his successors and assigns, otherwise to the Executor or Administrator of his Estate, all as their interest may appear; remainder, if any, to Jane Doe, spouse.

TRUSTEE UNDER LAST WILL AND TESTAMENT:

Primary: The trustee or successor trustee, under the Last Will and Testament of the Insured. If the Insured should die intestate or if no trust is created by the Insured’s Last Will and Testament, then to the Executor or Administrator of the Insured’s Estate.

How to Edit Beneficiary Designation Form Online for Free

The entire process of filling out the beneficiary transamerica change form is rather straightforward. Our team made sure our software is not hard to use and helps fill in virtually any PDF without delay. Below are a couple of simple steps you will have to take:

Step 1: The first task is to choose the orange "Get Form Now" button.

Step 2: So, you can start modifying the beneficiary transamerica change form. Our multifunctional toolbar is at your disposal - add, remove, transform, highlight, and carry out several other commands with the content in the file.

Enter the appropriate data in every area to fill in the PDF beneficiary transamerica change form

part 1 to filling in transamerica life insurance beneficiary

Type in the details in the Address (list below), City, Name (list below) Contingent, Relationship Percentage, Address (list below), City, Relationship Percentage, and Name (list below) area.

transamerica life insurance beneficiary Address (list below), City, Name (list below) Contingent, Relationship Percentage, Address (list below), City, Relationship Percentage, and Name (list below) fields to complete

The system will demand you to include some relevant details to instantly fill out the segment Owner’s Daytime Telephone Number, Irrevocable Beneficiary Signature, Witness Signature, Address of Witness, TOB 306M-0809, Print Owner’s Complete Name, Owner’s Social Security Number/Tax, Owner’s Signature (include Title, Owner’s Signature (include Title, Date Signed:, (SIGNATURE REQUIREMENTS ON NEXT, and TG-NF.

Filling in transamerica life insurance beneficiary step 3

The TRUST: XYZ Trust, SPOUSE OF INSURED, IRREVOCABLE BENEFICIARY: Primary:, CORPORATE CREDITOR: Primary: ABC, INDIVIDUAL CREDITOR: John Doe, TRUSTEE UNDER LAST WILL AND, the Executor or Administrator of, and then box can be used to indicate the rights and responsibilities of both sides.

Finishing transamerica life insurance beneficiary stage 4

Step 3: Select the "Done" button. So now, it is possible to transfer your PDF file - upload it to your device or deliver it by means of electronic mail.

Step 4: Get duplicates of your document. This may save you from potential future misunderstandings. We cannot watch or reveal your data, hence feel comfortable knowing it is secure.

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